What long-term care insurance premiums can be subtracted?

You are allowed a Long-Term Care Insurance Premiums Credit if ALL of the following are true:
  1. Your policy was issued in 2000 or later.
  2. You, your parents, or your dependents are the policy beneficiaries.
  3. You paid premiums for 2013.

The credit for Single and Joint Filers is the smaller of 15 percent of the premiums paid or $500. For Married Filing Separate filers, the combined credits on the spouses' returns can't be more than the credit they would have been allowed on a joint return.

Employers paying for long-term care insurance for employees may also claim this credit.

Contact the Oregon Department of Revenue for more information.

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